Refundable Production Tax Credit Bill HB1590 Deferred
The Senate MAT committee has deferred decisionmaking on HB1590, HD2, the bill that offers a ___% (exact % TBD) refundable production tax credit to film, television, commercial, and digital media productions, and photography shoots spending over $200,000 in Hawaii. The MAT committee will reconvene on Thursday afternoon (exact time and location TBD) to issue its decision on this bill.
Before Thursday, please email MAT chair Senator Carol Fukunaga at fukunaga1@capitol.hawaii.gov to express your views/opinions on this bill.
In thinking about film tax incentives, consider this:
* Louisiana passed several film tax incentives in 2002, when their annual production expenditure was just $20 million. With the help of these incentives, that figure grew to $210 million in 2003 and $335 million in 2004. High profile films such as Runaway Jury and Ray, and the upcoming Fantastic Four, All the King's Men, and Dukes of Hazzard were all drawn to Louisiana by its generous incentives. Additionally, local independent films have begun to flourish.
* In the 2 years since New Mexico passed its film tax incentives, the state has attracted 25 films that have generated $162 million in expenditures (up from just $8.8 million in 2002) and increased the local film crew labor pool six-fold, from 100 to 600 workers. One of these films was the upcoming Adam Sandler feature The Longest Yard, which considered shooting in Hawaii but decided that New Mexico had better incentives. Local independent films have begun to flourish here as well.
For more information on film tax incentives, click here.
Before Thursday, please email MAT chair Senator Carol Fukunaga at fukunaga1@capitol.hawaii.gov to express your views/opinions on this bill.
In thinking about film tax incentives, consider this:
* Louisiana passed several film tax incentives in 2002, when their annual production expenditure was just $20 million. With the help of these incentives, that figure grew to $210 million in 2003 and $335 million in 2004. High profile films such as Runaway Jury and Ray, and the upcoming Fantastic Four, All the King's Men, and Dukes of Hazzard were all drawn to Louisiana by its generous incentives. Additionally, local independent films have begun to flourish.
* In the 2 years since New Mexico passed its film tax incentives, the state has attracted 25 films that have generated $162 million in expenditures (up from just $8.8 million in 2002) and increased the local film crew labor pool six-fold, from 100 to 600 workers. One of these films was the upcoming Adam Sandler feature The Longest Yard, which considered shooting in Hawaii but decided that New Mexico had better incentives. Local independent films have begun to flourish here as well.
For more information on film tax incentives, click here.
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posted by mynette at
2:23 PM
